Barings to close 'uneconomic' Emerging Opportunities fund

Focus on larger GEM fund

Baring Asset Management is to close its Emerging Opportunities fund, which has become 'uneconomic to run' at its current size of $3m.

The Irish UCITS fund was launched in 2003 and Barings said the decision to close it was taken as "it is not considered economically viable to continue its operation". In a letter to shareholders, Barings said: "Where a fund has a small asset size the cost and charges of running the fund become higher in percentage terms which reduces potential for growth. We consider the impact of these and charges would significantly reduce the expected net returns of the fund." The decision will also streamline the firm's emerging market range as managers Jean-Louis Scandella, William Palmer and Isa...